CRN Security News

Symantec has finally fulfilled its acquisition promises made when it became a standalone security vendor earlier this year, announcing late Sunday night that it intends to acquire Blue Coat Systems for $4.65 billion.

A report Wednesday by investment banking firm and adviser Piper Jaffray said the $400 million in planned cost cuts at Symantec will take the form of transition services agreements with Veritas, procurement changes, staff cuts, real estate and a re-evaluation of the company's portfolio of products.

The former VMware NSX executive, along with a former Barracuda channel exec who returned to the company, are looking to be a part of Barracuda Networks' expanded business in the cloud and hybrid cloud.